Paysign (NASDAQ:PAYS) Earns Buy Rating from Analysts at Lake Street Capital

Equities researchers at Lake Street Capital initiated coverage on shares of Paysign (NASDAQ:PAYS) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $6.00 price target on the stock. Lake Street Capital’s price target suggests a potential upside of 100.67% from the stock’s current price.

Separately, Barrington Research reiterated an “outperform” rating and issued a $7.00 target price on shares of Paysign in a report on Monday, November 4th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Paysign presently has an average rating of “Buy” and an average target price of $6.13.

Paysign Price Performance

NASDAQ PAYS opened at $2.99 on Friday. The company has a market cap of $160.11 million, a P/E ratio of 19.93 and a beta of 0.93. Paysign has a 12 month low of $2.40 and a 12 month high of $5.59. The company has a 50-day moving average of $3.52 and a 200-day moving average of $4.07.

Paysign (NASDAQ:PAYS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $15.26 million during the quarter, compared to analyst estimates of $14.96 million. Paysign had a net margin of 14.28% and a return on equity of 30.64%. During the same quarter in the prior year, the business posted $0.02 earnings per share. As a group, equities research analysts anticipate that Paysign will post 0.21 EPS for the current year.

Insider Activity

In related news, CEO Mark Newcomer sold 40,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $3.24, for a total value of $129,600.00. Following the completion of the sale, the chief executive officer now directly owns 9,296,886 shares in the company, valued at approximately $30,121,910.64. This represents a 0.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Louis Lanford sold 25,360 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $3.96, for a total value of $100,425.60. Following the transaction, the insider now owns 109,731 shares in the company, valued at approximately $434,534.76. This represents a 18.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 339,360 shares of company stock valued at $1,234,246. Company insiders own 23.40% of the company’s stock.

Institutional Trading of Paysign

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of Paysign by 25.0% in the second quarter. Renaissance Technologies LLC now owns 1,504,380 shares of the company’s stock valued at $6,484,000 after purchasing an additional 301,000 shares during the period. Joule Financial LLC acquired a new position in Paysign in the 3rd quarter worth $1,478,000. Royce & Associates LP purchased a new position in Paysign in the 3rd quarter valued at about $814,000. Sanctuary Advisors LLC grew its stake in shares of Paysign by 4.3% during the third quarter. Sanctuary Advisors LLC now owns 121,089 shares of the company’s stock valued at $419,000 after acquiring an additional 5,000 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Paysign by 31.2% in the third quarter. GSA Capital Partners LLP now owns 117,028 shares of the company’s stock worth $429,000 after acquiring an additional 27,829 shares in the last quarter. Institutional investors and hedge funds own 25.89% of the company’s stock.

Paysign Company Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.